SBA Issues Guidance on Student Workers and PPP Loan Eligibility
May 7, 2020 - The SBA has provided guidance on whether higher education institutions can include student workers when determining the number of employees for purposes of PPP eligibility.
SBA Provides Answer on Foreign Workers and Employee Counts for PPP Loans
May 7, 2020 - The SBA has issued a FAQ that provides clarification on how foreign workers affect the employee computation for PPP loan eligibility.
Treasury Dept. Says PPP Loan Amounts Over $2 Million Will Be Audited
April 29, 2020 - U.S. Treasury Secretary Steven Mnuchin announced that the Small Business Administration will audit Paycheck Protection Program loan amounts over $2 million to verify economic need before the loans are forgiven.
To Zoom or Not to Zoom? The Security Is the Question
April 28, 2020 - Zoom has become a very popular videoconferencing solution, but many security concerns have started to surface. Here's what your organization should know if you use Zoom or are considering it.
SBA Provides FAQs on Calculating Payroll Costs for PPP Loans
April 24, 2020 - The Small Business Administration (SBA) has released guidance to help businesses and organizations calculate their payroll costs when determining the amount of a Paycheck Protection Program (PPP) loan they can apply for.
Watch for These Errors When Filing for COVID-19-Related Employer Credits
April 23, 2020 - The IRS is warning employers to watch out for these common mistakes when filing Form 7200, Advance Payment of Employer Credits Due to COVID-19.
Substantial Presence Test Relief for Certain Eligible Non-Resident Aliens
April 22, 2020 - The IRS has granted relief from the “number of days requirement” applicable in the “substantial presence test” to certain non-resident alien individuals who will be in the U.S. in 2020 for more days than anticipated due to travel restrictions arising from the COVID-19 pandemic.
COVID-19 and Church Giving: How Does Your Church Compare?
April 21, 2020 - We surveyed churches of all sizes across the U.S. to gauge the impact and trends of recent events on giving. See how your church compares.
IRS Extends Deadline for Self-Correction of 403(b) Plan Provisions to June 30
April 21, 2020 - If your nonprofit sponsors a 403(b) retirement plan with provisions that fail to meet Internal Revenue Code (IRC) Section 403(b) requirements, you can correct this by adopting plan amendments. The IRS has extended the deadline to June 30, 2020.
Waiver of Time Requirements for Certain Individuals Eligible for the Foreign Earned Income Exclusion
April 21, 2020 - The IRS has granted individuals otherwise eligible for the foreign earned income exclusion to waive days of presence in the U.S. due to the COVID-19 pandemic.